MillerKnoll (NASDAQ:MLKN) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of MillerKnoll (NASDAQ:MLKN) from a hold rating to a buy rating in a research note released on Wednesday.

MillerKnoll Stock Performance

Shares of MLKN stock opened at $21.90 on Wednesday. The company has a current ratio of 1.60, a quick ratio of 0.99 and a debt-to-equity ratio of 1.02. The stock has a 50 day simple moving average of $23.73 and a 200-day simple moving average of $25.66. The company has a market cap of $1.49 billion, a price-to-earnings ratio of 24.07, a price-to-earnings-growth ratio of 0.84 and a beta of 1.23. MillerKnoll has a 12-month low of $20.89 and a 12-month high of $31.73.

MillerKnoll (NASDAQ:MLKN) last released its quarterly earnings data on Wednesday, December 18th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.01. The firm had revenue of $970.40 million during the quarter, compared to analysts’ expectations of $959.60 million. MillerKnoll had a return on equity of 10.74% and a net margin of 1.81%. MillerKnoll’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.59 earnings per share. On average, equities analysts forecast that MillerKnoll will post 2.12 EPS for the current year.

Institutional Investors Weigh In On MillerKnoll

A number of large investors have recently added to or reduced their stakes in MLKN. EverSource Wealth Advisors LLC grew its position in shares of MillerKnoll by 254.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,201 shares of the company’s stock valued at $32,000 after purchasing an additional 862 shares during the last quarter. GAMMA Investing LLC grew its holdings in MillerKnoll by 35.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,642 shares of the company’s stock valued at $41,000 after buying an additional 426 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in MillerKnoll during the third quarter worth $84,000. DekaBank Deutsche Girozentrale lifted its position in shares of MillerKnoll by 99.7% in the third quarter. DekaBank Deutsche Girozentrale now owns 4,640 shares of the company’s stock valued at $112,000 after acquiring an additional 2,316 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new stake in shares of MillerKnoll during the third quarter valued at $210,000. 87.50% of the stock is owned by institutional investors and hedge funds.

MillerKnoll Company Profile

MillerKnoll, Inc researches, designs, manufactures, and distributes interior furnishings worldwide. It operates through three segments: Americas Contract, International Contract & Specialty, and Global Retail. The company also provides seating products, furniture systems, other freestanding furniture elements, textiles, leather, felt, home furnishings and related services, casegoods, storage products, as well as residential, education, and healthcare furniture solutions.